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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Watcher who wrote (16232)	10/5/1999 12:44:00 PM
From: Due Diligence	Read Replies (1) \| Respond to of 52051

FOCS News: Record Orders (COMTEX) B: FiberChem Announces Record Orders, Estimated Revenues for B: FiberChem Announces Record Orders, Estimated Revenues for Fiscal 1999 LAS VEGAS, Oct 5, 1999 (BUSINESS WIRE) -- FiberChem Inc., through its wholly owned subsidiary FCI Environmental Inc. (FCI), announced that customer orders reached a record level when additional organizations in the Florida Aboveground Storage Tank (AST) market committed to its PetroSense(R) leak detection products. New customers were represented by orders for the Tampa International, Orlando International and West Palm Beach airports. Reorders from existing customers included GATX, Motiva Enterprises (formerly Shell) and Marathon Ashland Petroleum, which converted a letter of intent into a firm order. This brought the value of firm orders received in the fourth fiscal quarter to just over $1 million. Geoff Hewitt, Chairman and CEO of FiberChem, said, "We were gratified by the ongoing stream of orders from the Florida market, which we expect to continue well into fiscal year 2000. At the same time, orders from sources outside the Florida AST market were strong compared with recent quarters. We are particularly encouraged by customer input that AST leak detection is becoming a priority at facilities outside of Florida." Full revenue recognition for AST orders requires completion of installations. Some scheduled installations were delayed by over two weeks due to the severe weather in Florida during September. In the case of these new orders, installations are scheduled for October or November. As a result, unaudited revenues for the fourth fiscal quarter are estimated to be around $640,000. Unaudited preliminary results for the fiscal year ended Sept. 30, 1999, show record revenues of about $2 million, up nearly 50% over the previous year. The Company will enter the first quarter of fiscal 2000 with an estimated backlog of about $400,000. As the deadline of Dec. 31, 1999, for compliance with the Florida AST regulations approaches, prospects for ongoing revenue growth continue to look bright. This news release includes forward-looking statements that involve risks and uncertainties, including weather related delays, the timely development and acceptance of new products, final promulgation and enforcement of regulations, the impact of competitive products and pricing, timely funding of customers' projects, customer payments to the Company and the other risks detailed from time to time in the Company's SEC reports. FiberChem develops, manufactures, markets and licenses fiber optic chemical sensors (FOCS(R)) that produce continuous, real-time information on environmental pollutants in the air, water and soil. Copyright (C) 1999 Business Wire. All rights reserved. Distributed via COMTEX. -0- CONTACT: Continental Capital & Equity Corp. Scott A-B Gibson, 407/682-2001 e-mail: scott@insidewallstreet.com www.insidewallstreet.com (Click on Special Situations) WEB PAGE: businesswire.com GEOGRAPHY: NEVADA FLORIDA INDUSTRY CODE: ENVIRONMENT CHEMICALS/PLASTICS ENMED Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. * end of story *